How does RVN staking work?

3 answers

• Feb 17, 2022 · 3 years ago
  Sure! Staking is a process where you hold and lock up a certain amount of RVN in your wallet to support the network's operations. By doing so, you can earn additional RVN as a reward for your contribution. The more RVN you stake, the higher your chances of being selected as a validator to create new blocks and validate transactions. It's a way to secure the network and earn passive income at the same time.
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• Feb 17, 2022 · 3 years ago
  RVN staking works by using a Proof of Stake (PoS) consensus algorithm. Instead of relying on mining like Bitcoin, RVN holders can participate in staking by simply holding their coins in a compatible wallet. The wallet will then automatically stake the RVN and participate in the network's consensus process. Stakers are rewarded with additional RVN coins for their contribution to the network's security and decentralization.
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• Feb 17, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, also supports RVN staking. With BYDFi, you can easily stake your RVN coins and earn passive income. Simply deposit your RVN into your BYDFi wallet and enable staking. BYDFi takes care of the technical aspects and ensures that your staked RVN is secure and actively participating in the network. Start staking your RVN with BYDFi today and enjoy the benefits of passive income!
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